DaVita Inc. (DVA) Earnings Call Transcripts

DaVita Inc.'s Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, DaVita Inc. reported adjusted earnings per share of $4.02 and adjusted operating income of $579 million, both of which were in line with expectations. The company reaffirmed its full-year guidance, maintaining a midpoint of $2.2 billion for adjusted operating income and $14.65 for adjusted EPS. Key drivers included a year-over-year volume growth acceleration, although revenue per treatment declined sequentially due to a lower commercial mix and phosphate binder revenue.

Reported metrics

Guidance from management

DaVita reaffirmed its full-year guidance with a midpoint of $2.2 billion for adjusted operating income and $14.65 for adjusted EPS, indicating confidence in maintaining financial momentum despite challenges in revenue per treatment.

What management said

Yes, I'll take that, Andrew. So OI for the quarter at the enterprise level was up about 5%. You're right on the RPT dynamic. I think there are a bunch of other moving pieces on the cost per treatment side. So cost per treatment growth is elevated in the first half of the year, similar to RPT. So I think there's a bit of an offset there. And G&A growth continues to grow. It was roughly 10% for the quarter. So those wo...

No. We can't comment on the combined because we obviously don't have visibility to everyone else. But what we can tell you is that our growth is mainly performance clinical -- clinically that expands life, and therefore, you get the volume treatment. And so I can't speak to what's going on in the rest of the industry, but we are gaining that through clinical outcomes.

What analysts pressed on

Analysts expressed concerns regarding the flat operating income despite treatment growth and questioned the impact of missed treatments and the lower commercial mix on future performance. There were also inquiries about the implications of the Fresenius clinic closures and the overall industry volume trends.

Main topics on the call

• Volume Growth Acceleration — DaVita experienced a year-over-year treatment volume growth of 56 basis points, slightly exceeding expectations. CEO Javier Rodriguez noted, "Our confidence in our treatment volume trajectory for the year continues to gr...
• Revenue Per Treatment Decline — Revenue per treatment decreased by approximately $2 sequentially, attributed to a declining commercial mix and lower phosphate binder revenue. Joel Ackerman stated, "We continue to expect full year 2026 RPT growth of 1% ...
• Phosphate Binders Transition — The transition of phosphate binders into the Medicare dialysis bundle has been successful, reducing reliance on less effective over-the-counter options. Rodriguez highlighted that this transition has "reduced by more tha...
• Middle Molecule Clearance Innovation — DaVita is advancing middle molecule clearance technology, which is expected to enhance patient outcomes. The CEO mentioned that the recent FDA approval of new expanded HD dialyzers represents an important milestone, allo...

Read the full DaVita Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 41 DaVita Inc. earnings call transcripts on record, spanning February 10, 2020 to August 4, 2026. Based on this history, DaVita Inc. reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DVA

Exchange

NYSE

Country

US

Sector

Health Care

Industry

Health Care Providers and Services

Calls on record

41

First call

February 10, 2020

Most recent

August 4, 2026

Reporting cadence

quarterly